Gbpusdtrend
GBPUSD At Multiple Resistance Level (SELL)GBPUSD is trading at 62% Fibonacci retracement level. It has previously tested the 62% level thrice but failed to give a breakout above 62% Fibonacci retracement level. Now it might reverse its trend on the downside channel pattern, as you can see in the chart. One can initiate the trade on the short side with stop loss are 62% Fibonacci retracement level and the target will be the support line of channel pattern.
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GBPUSD Consolidation To Big Down Trend.GBPUSD is trading in consolidation range, it will be very small. After some consolidation, we might see a big downside in GBPUSD before the big downside it can hit target 1, which will be support line 1 and consolidate in between resistance line 1 and support line 1. Once consolidation is over after hitting support line 1, we might see a big downtrend in GBPUSD toward the support Line 2, or we might see further low than the previous low.
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GBPUSD Trading In Channel PatternGBPUSD has just broke-out from its resistance level on upside and now it is trading at the same level called support level. From the chart, now it is trading in the upper part of the channel pattern and also trading at the support level. If it breaks from the support level, we might see downside toward the support level of the channel pattern.
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Long Gbpusd for short.New Trade levels for long and short gbpusd if u agree then u can take trade with proper money management thanks
Good chance that the pair will break previous resistance level.This is a follow-up of my last post where i explained that GBP/USD will continue it's bearish momentum.
The price is close to previous resistance level , i believe price will break through to test previous support level and make a reversal to the upside.
But there's a slight probablity that it may reverse after touching previous resistance level, in that case... open long positions and expect price to go higher than 1.3200.
Potential short on GBPUSDExpecting a move down to support near 1.36000. Counter-trend break imminent on 1h now that price has broken longer term trend and pulled back up into resistance. Price may stick with the current trend a little longer to sound out higher resistance before breaking down and making a close below current minor trend and 50ma - providing a short opportunity.
